ore than 1,000 people turned out to the opening ceremony to take a first look at what could be a monumental point in a new era of gaming Russia.
The opening of the casino will help create new jobs and will boost the development of tourism and economic growth in the Primorye region, which is expected to bring to the budget more than a billion rubles (US$16m) in taxes, the regional government said earlier this week.
Primorye officials hope the new facility, called Tigre de Cristal, will attract other investors to the region to develop an international leading gaming and entertainment destination.
The first phase of Tigre de Cristal opened with a 119-hotel and 24-hour casino with 800 slot machines, 15 baccarat tables, 25 other table games and 25 VIP gaming tables. It will also feature conference facilities, restaurants, retail and a nightclub. The property was set to open by August 28 but was pushed back over the government inspection procedure.
“Tigre de Cristal is undergoing final fit-out and operations commissioning, and is progressing through the government approval process,” remarked the company in the filing. “We remain optimistic about the prospects for our project in the Far Each and appreciate our stakeholders and partners’ ongoing support as we approach our imminent opening date.
According to the filing, Summit Ascents has maintained stringent cost controls and therefore does not expect to encounter material budget overruns. After opening the first phase of the project, another two hotels are expected to be built as part of the complex, with another 500 slot machines, 100 VIP tables and 70 mass tables, bringing total investment to US$1bn.